. >>> top venture capital firm andreesen horowitz launching a crypto dedicated fund and it's a big raise00 million that will be used to invest in virtual currencies like bitcoin and either as well as blockchain related projects the funds will be co-led by former doj prosecutor catherine huan and chris dixon the launch comes as bitcoin has lost 52% of its value in 2018. dixon telling cnbc the firm is not worried about the ups and downs of the cryptocurrency market and some of the downturns can be the best investments. further more dixon says all though the bitcoin white paper is ten years old, we believe we are still early in the crypto movement the infrastructure needs to be improved and the applications are difficult for non-early adopters to use. many crypto applications still get dismissed as toys. we believe this will change quickl quickly. they did make early investments in instagram and airbnb and has raised over $7 billion across seven funds. also worth noting andreesen was one of the first firms in silicone valley to put money in cryptocurrencies back in 2013 when it invested in